Heath Ritenour on Leadership and Valuing Your Team — Company Leaders
Running a successful business is not based on chance but requires specific leadership attributes. Heath Ritenour of Insurance Office of America (IOA) is one of those unique individuals who possess the key strengths and skills to drive a team forward and help a company thrive in today’s competitive environment.
Heath Ritenour is the current chairman and CEO of IOA , a full-service insurance agency founded in 1988 by Heath’s parents, John and Valli Ritenour. The younger Ritenour started at IOA in the 1990s, working as a summer intern. While he never intended to commit his entire professional career to IOA, he soon recognized the opportunities that lay ahead and transitioned to a sales agent in 1996.
From the beginning of his sales career, Heath Ritenour adopted a client-centric approach, which led him to become one of the top-selling agents in the office.
Heath Ritenour recalls , “I learned from [my dad] that you’ve got to put your customer first.” In 2008, John Ritenour was considering his future retirement when he turned to his son to step into the position of CEO. However, Heath Ritenour initially declined the offer. He shares, “I flippantly said no. I felt totally inadequate. I was 31 at the time. We were a $70 million business back then, with about 500 people … It just felt overwhelming. So, I said no. He asked me again, a month or two later. And I continued to say no multiple times.” While Ritenour was adamant about his decision, over time, he started to view the position differently and recognized what joining management meant. It involved more than just becoming CEO. It meant having a lasting and personal impact by supporting the hundreds of families employed by IOA.
Ritenour took very seriously the fact that more than 500 families were eating based on the decisions leadership made. “I watched my parents build this [company] from nothing. My dad grew up in the projects of Pittsburgh, and my mom grew up in a trailer park in Pittsburgh; [they came from] very humble beginnings,” he explains, “I watched the sacrifices it took [for] them to build this place. I felt like God put that on my heart: ‘If not you, then who?’”
Fueled by a new inner conviction, he decided to accept the position of CEO in 2008.
Transitioning into leadership prompted Ritenour to adopt a team-centric mindset, similar to the client-centric approach that helped him become a top seller in the company. With this outlook and dedication, he has been able to grow continuously throughout his tenure at IOA. Since Ritenour became CEO, the company has experienced year-over-year growth from $70 million in revenue in 2008 to $250 million in revenue today.
Influenced by a Cancer Diagnosis: Acting as a Proactive Leader
At the age of 39, Ritenour was diagnosed with cancer. He reports that fighting and beating cancer changed his perspective on life and influenced his decision to become a more empathetic leader. Because of his own personal struggle, his focus shifted from the bottom line to implementing a more proactive leadership style.
Facing the unknown made him more aware of the “bigger picture” in life, and after his battle, Heath Ritenour created a heartfelt video that outlined what he was going through and explained how he planned to combat the illness.
Ritenour’s personal disclosure led to a new attitude among IOA team members, and he continued to lead with a broader vision. He currently helps agents and employees develop plans that focus on improving the team’s workflow functions that encourage a work-life balance.
When tragedy strikes, people can take one of two roads, and Ritenour chose the path of conviction. He chose to use his struggles positively, to be vulnerable, and to revolutionize his company.
Appreciating Your Team’s Accomplishments
Although IOA’s growth appears to happen organically, it is not due to chance. Ritenour carefully cultivated it, placing great value in his team and supporting them in recognizing their own worth as employees.
Heath Ritenour shares, “I thoroughly believe in focusing on people and organic growth rather than acquisition. What’s the point of acquiring a high volume of customers if those customers don’t feel valued and aren’t confident in the services that [the] business provides? … I believe the true measure of any successful business is its organic growth rate, rather than how many other businesses they can leverage up to purchase. Natural growth focuses on building strong leadership teams that successfully handle whatever comes with eventual growth. It focuses on developing the internal infrastructure needed to expand successfully. These facets are crucial to not only attaining growth but sustaining it.”
Ritenour’s approach to valuing customers and employees alike has led to a culture of recognition within the company and has allowed the IOA team to retain top talent in the industry, improve employee engagement, and encourage high performance. Not only has IOA itself experienced economic growth, but the agents committed to the IOA platform have been recognized for their accomplishments.
Under Ritenour’s active leadership, seven of IOA’s brokers were named “2021 Power Brokers” by Risk & Insurance . He was personally connected to and invested in this accomplishment.
Ritenour states , “We couldn’t be more proud of the accomplishments of this team during one of the most challenging years imaginable. Our main goal is to focus on the risks unique to each client so they can focus on the future of their business. For this team of professional advisors to accomplish this recognition shows that they know how to provide expert-level guidance and support no matter the market conditions.”
Winners included Spencer Allen, Jr., Employee Benefits; Matt Engle, Nonprofit; Alka Manaktala, Hospitality; Howard Massey, Hospitality; Billy McQueeney, Hospitality; Steve Miller, Technology; Bo Shaw, Real Estate. Andrew Cruse, Transportation; and Andy Glenn, Real Estate, were also finalists.
Ritenour and IOA are shining examples of how leaders must value and celebrate their team’s accomplishments and focus on more than just the bottom line. A thriving business always starts with a thriving team.
Heath Ritenour: Focusing on the Future
In 2021, IOA expanded its team to accommodate the growing demands of the firm, identifying talent both within and outside the company.
IOA sees value in promoting and investing in its own employees, and it also recognizes the value in finding new team members outside the company. Jeffrey Mosley was recently hired as an employee benefits specialist. Before joining IOA, Moxley served as the vice president of employee benefits at Acrisure.
Moxley says of his decision to join IOA, “Our team’s culture and knowledge of emerging markets have prepared us to lead our clients to more sustainable benefits programs.”
Stephanie Brewer, a 14-year veteran of the telecommunications industry, came on board in 2021 the telecoms team as the director of telecommunications safety and compliance.
IOA Regional President Bruce Eades reflects on Brewer’s work: “We’re looking forward to Stephanie applying her in-depth knowledge of contract compliance, subcontractor management, risk management, and safety compliance to our telecom client relationships throughout the country.”
Heath Ritenour and the IOA team continue to deliver excellent service by focusing on the needs of their clients. At the same time, the company recognizes the value of cultivating a thriving team mentality and supporting employees in achieving their individual goals. It is this unique two-pronged approach that has contributed to IOA’s outstanding growth over the years.
Originally published at https://companyleaders.org on December 2, 2021.
